Some F&N bonds fail to get votes

THE vote fell through for higher rated coupons at the extraordinary resolution tabled at the meeting for the holders of the various bonds and notes held by F&N Treasury yesterday.

Specifically, the required quorum was not achieved at the meeting of the holders of the seven-year bonds last night; they hold an outstanding $80 million worth of 3.15 per cent bonds due 2018.

The extraordinary resolution for the five-year bonds on the other hand - $220.0 million worth of 2.48 per cent bonds due 2016 - was passed without amendment.